Pontoon site auction starts at $9.75 million for land worth “zero dollars”

The local casting basin was placed on the WSDOT property auction site this month, with a starting price of $9,750,000.

A year since finalizing production for the SR 520 pontoons, the 54+ acre site has laid empty. Permits for the site were issued in 2011; the site was decommissioned in 2015; and it has laid vacant following local construction.

In a recent “Highest and Best Use Industrial Study” By Nichols Marine Services, they reported that the location may not be worth anything.

They said in their report, “because site modifications are necessary for any marine industry, the value of the site in its current configuration has been set at zero dollars.”

The study noted that improvements to convert the site for a marine vessel business “are expected to total approximately $12.5 million”

They added, “Having to pay a positive value for this SR 520 pontoon casting basin site would likely render the site undesirable and cost prohibitive to potential buyers.”

Several options have been proposed for the site during local meetings, many of which would include filling the casting basin and using the area as traditional industrial zone land.

The WSDOT auction webpage highlights the proximity to the Port of Grays Harbor, local waters, and the Pacific Ocean.

A $50,000 deposit is required before any company can bid on the property.